The Hybrid Solution And Why It’s Better
The latest coin in the crypto currency world coming from Ireland. It’s doing quite well and looks to be getting stronger.
DasCoin combines the best qualities of decentralized cryptocurrencies with the best aspects of centralized cryptocurrencies – and eliminates their weaknesses.
DasCoin serves as the store of value and facilitates convertibility and interoperability within the system. The value of DasCoin is supported by a range of innovative solutions that create real-world utility for individuals and businesses and build demand among financial institutions, cooperatives and merchants.
Minting is the process of producing new DasCoins.
Only 8.5 billion units of DasCoin(233 to be exact: 8 589 934 592)will ever be minted.
The minting process begins with the submission of Cycles to the DasNet system. Rather than using the Cycles for network services, the holders of these Cycles choose to submit them to DasNet so that they can be converted to DasCoins. The system accepts Cycles and then uses them to produce DasCoins: essentially, the DasNet platform’s minting process to converts stored network capacity into stored value.
Cycles are submitted from inside the WebWallet. Upon submission, the Cycles enter the minting queue, and are placed behind all previously submitted Cycles where they await further processing.
Every 10 minutes, the system’s master nodes remove a certain number of Cycles from the system and produce a certain number of DasCoins as the reward for the collected Cycles, with the exact proportion of this conversion depending on the Frequency.
These newly minted DasCoins are deposited directly into the WebWallet vault owned by the person who submitted the Cycles.
Frequency is the conversion factor used in the minting process of Cycles to DasCoins. As the DasNet expands, a number of positive dynamics occur: risk is reduced, the circle of users widens and the infrastructure of the system grows larger. Consequently, the value of a unit of stored value (DasCoin) in the system increases in relation to a unit of stored network capacity (Cycle). This results in more Cycles being needed to produce a unit of DasCoin. This dynamic is reflected in an increase in the Frequency, which is commensurate with the incremental growth of the network.
An Upgrade is the doubling of all available Cycles (meaning, all Cycles not currently in the minting queue). An Upgrade is a factor that represents the increased efficiency of DasNet’s technology over time due to technological advances and Moore’s Law dynamics. An Upgrade is currently scheduled to occur within the system every 108 days.